BAS & IAS Prepare – Lodge

Early information update on the new announcements today

UPDATED Government Program as of 22 March ‘20

Details as announced as of 22 March 2020, Prior to Legislation being presented.

UPDATE: PAYGW credit of up to $100k for employers (Previously $25k) in two instalments

It is not law yet! It is extremely likely to become law.

Both sides of Parliament have indicated their support for these measures.

Awaiting: Sole Traders or Trust Beneficiaries – We are informed there is an announcement coming but not today. Note: the ATO initiative below to stop paying PAYGI provides a cashflow timing benefit.

Also Government announced Sole Traders availability to access Centrelink payments. No waiting period for Job Seeker eligibility and also a one off payment. (Details pending)